Question 1

Business model innovations result in ways for firms to make money.

Accepted Answer

Business model innovations explore new and creative ways for firms to generate revenue and make money.

Question 2

Creating positive change in organizations is easy,despite the complexity,uncertainty,anxiety,and risk involved.

Accepted Answer

Creating positive change in organizations is often challenging, and involves navigating a variety of obstacles such as resistance to change, communication barriers, and cultural differences. It requires careful planning, effective leadership, and the willingness to take calculated risks. However, despite these challenges, positive change is possible with the right strategies and mindset.

Question 3

Product innovations result in better ways of doing things;process innovations result in the creation of new or improved goods and services.

Accepted Answer

The statement should be reversed. Product innovations result in the creation of new or improved goods and services, while process innovations result in better ways of doing things.

Question 4

Many organizations and their leaders are slow in responding to change.

Accepted Answer

This statement is true. Many organizations and their leaders tend to be resistant to change and may take longer to adapt to new circumstances.

Question 5

Strategic leadership refers to the "ability to anticipate,envision,maintain flexibility,think strategically,and work with others to initiate changes that will create a viable future for the organization."

Accepted Answer

Strategic leadership involves various skills and abilities, including anticipating future challenges, envisioning new possibilities, maintaining flexibility, thinking strategically, and collaborating with others to drive change that will enable the organization to thrive in the future.

Question 6

The goal of strategic leadership is to make a core competency out of the ability to innovate and continuously change.

Accepted Answer

Strategic leadership involves creating a vision for the organization and implementing strategies to achieve it. In today's constantly evolving business environment, it is essential for organizations to be innovative and adaptable. Therefore, one of the main goals of strategic leadership is to foster a culture of innovation and change within the organization, making it a core competency.

Question 7

Within the context of Gary Hamel's wheel of innovation,imagining involves thinking about new possibilities,making discoveries by ingenuity or communication with others,and extending existing ways.

Accepted Answer

Imagining is one of the four key elements in Hamel's wheel of innovation, and it involves generating and exploring new ideas and possibilities.

Question 8

Invention is the generation of a novel idea or unique approach to solving problems or crafting opportunities.

Accepted Answer

The answer of Invention is the generation of a novel...

Question 9

The new economy has created tremendous turmoil but few genuine opportunities.

Accepted Answer

The statement is incorrect. The new economy has indeed created numerous opportunities in fields such as technology, e-commerce, and digital marketing. However, it has also caused significant disruption and upheaval in traditional industries, leading to job losses and other challenges.

Question 10

Within the context of Gary Hamel's wheel of innovation,experimenting refers to examining practicality and financial value through experiments and feasibility studies.

Accepted Answer

Experimenting in Gary Hamel's wheel of innovation involves testing and examining the practicality and feasibility of new ideas before investing heavily in them. This can involve experimenting with prototypes, conducting feasibility studies, and assessing their financial value before committing resources.

Question 11

Intellectual capital,knowledge management,and learning organizations are increasingly important in the modern business world.

Accepted Answer

With the rise of information technology and global competition, businesses are recognizing the value of intellectual capital (the intangible assets, such as knowledge, skills, and experience, that create value for the organization) and the need to manage it effectively through knowledge management and learning organizations.

Question 12

Within the context of Gary Hamel's wheel of innovation,designing involves gearing up and implementing new processes;putting to work what has been learned;and commercializing new products or services.

Accepted Answer

Designing in Gary Hamel's wheel of innovation involves creating and developing new ideas, not the implementation or commercialization phase.

Question 13

Commercializing innovation is the process of turning new ideas into products or processes that can increase profits through greater sales or reduced costs.

Accepted Answer

Commercializing innovation involves taking new ideas and turning them into profitable products or processes. This can be achieved through increased sales or reduced costs, ultimately leading to greater profits for the company.

Question 14

Green innovations do not support the idea of sustainability.

Accepted Answer

Green innovations are designed to reduce the negative impact on the environment and promote sustainable practices. Therefore, they are generally in line with the idea of sustainability.

Question 15

Process and product innovations support invention and application.

Accepted Answer

Process and product innovations provide new ways to create and improve products or services, which can lead to new inventions and their successful application in the market.

Question 16

Within the context of Gary Hamel's wheel of innovation,scaling concerns testing ideas in concept;discussing them with peers,customers,clients,or technical experts;and building initial models,prototypes,or samples.

Accepted Answer

Scaling involves implementing successful ideas into a larger market or organization. Testing, discussing, and building prototypes are preliminary phases of the innovation process that come before scaling.

Question 17

Creativity allows an organization to turn technologies and other resources into unique processes and products.

Accepted Answer

Creativity is the ability to come up with new and innovative ideas, which can be used to develop unique processes and products. By combining different technologies and resources in new ways, organizations can create something that is truly unique, and this can help them stand out from their competitors. Therefore, creativity is a valuable asset for any organization looking to innovate and grow.

Question 18

Highly innovative organizations fulfill five critical innovation roles: idea generators,information gatekeepers,product champions,project managers,and innovation leaders.

Accepted Answer

Highly innovative organizations require individuals to fulfill these five critical innovation roles: idea generators, information gatekeepers, product champions, project managers, and innovation leaders.

Question 19

The process of turning ideas into innovations that reduce the carbon footprint of an organization or its products is called Green Innovation.

Accepted Answer

Green Innovation refers to the process of developing and implementing ideas or technologies that reduce the environmental impact of an organization or its products or services.

Question 20

Highly innovative organizations have organic structures that rely on lateral communications as well as cross-functional teams and task forces.

Accepted Answer

Organic structures, by definition, are flexible and adaptable. They rely on lateral communications and cross-functional teams to facilitate innovation and agility. Therefore, highly innovative organizations are likely to have organic structures that enable creative problem-solving and collaboration across departments and levels.

Quiz 9: Innovation and Organizational Change